UPDATE 1-Engineering firm CB&I Q3 profit rises, backlog falls

Oct 23 (Reuters) - Chicago Bridge & Iron Co reportedon Tuesday a h igher-than-expected q uarterly profit, but backlogof work declined, as the engineering company tries to complete atakeover of rival Shaw Group Inc by early next year.

On Friday, Shaw gave a 2013 forecast that was far belowmarket estimates, and it also faced growing push-back frominvestors over the proposed $3 billion CB&I deal.

CB&I said its backlog declined to $9.5 billion at the end ofthe third quarter from $10 billion three months before.

Net income rose to $80.2 million, or 82 cents per share,from $72.2 million, or 72 cents per share, a year before.Analysts had expected 81 cents per share, according to theaverage on Thomson Reuters I/B/E/S. Revenue grew 15 percent to$1.45 billion.

"We expect to complete the Shaw acquisition in the firstquarter, considerably expanding our ability to compete for andexecute the world's largest energy infrastructure projects,"Asherman said in a statement.